Oil and Industry

Energy 11-02-2021

Petrostates face $9trln income gap with energy transition: study

The world’s poorest oil-dependent countries are set to take the biggest hit in the transition away from fossil fuels, according to a new report published on Thursday (11 February).
Circular economy 03-02-2021

Dressed to kill – the environmental cost of fast fashion exposed

The EU needs to introduce strict measures to slow overconsumption in the fast fashion industry and increase the recyclability of textiles in order to reach a zero waste and net zero economy by 2050, according to a new report.
Energy 26-01-2021

BP’s oil exploration team swept aside in climate revolution

Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil.
Climate change 20-01-2021

Competition or cooperation? EU, US enter new era of climate diplomacy

As Joe Biden takes the reins of a tumultuous America, analysts have tempered expectations about the ability of the new US administration to closely align with Europe on climate change.

EU price on pollution hits record high in early 2021

The price of permits on the European Union carbon market has soared to record levels in the first trading days of the year, hiking costs for polluters as the EU prepares measures to enforce deeper emissions cuts.
Energy 22-12-2020

Norway’s top court rejects climate challenge to Arctic oil exploration

Norway's Supreme Court struck down a challenge from environmental groups trying to stop oil exploration in the Arctic, after a historic battle over the country's climate change commitments on Tuesday (22 December).
Energy 02-12-2020

Fossil fuel production needs to fall 6% per year to avoid catastrophic warming: report

World governments need to reduce fossil fuel production by 6% every year over the next decade to reach a 1.5°C pathway and limit catastrophic warming, according to new research.

While coal premiums soar, insurance groups still supports oil and gas

Insurance companies have accelerated their withdrawal from coal this year, making it costlier to secure insurance for new projects. However, the insurance industry is still underwriting oil and gas companies, according to new research.
Energy 24-11-2020

Oil hits highest since March, but still drastically down from last year

The oil price has reached its highest point since it plummeted in March due to COVID-19 lockdowns, as market confidence grows in coronavirus vaccines.
Energy 23-11-2020

Oil and gas majors sign up to ‘gold standard’ of methane reporting

Sixty-two major oil and gas companies on Monday (23 November) agreed to a new framework for monitoring, reporting and reducing methane emissions as part of the Oil and Gas Methane Partnership 2.0.
Energy 16-11-2020

UK set to move petrol and diesel ban forward to 2030

Prime Minister Boris Johnson is expected to move the ban on sales of new petrol and diesel cars forward to 2030, as part of a raft of new policy announcements to drive the UK towards its net-zero target. EURACTIV's media partner edie.net reports.
Energy 09-11-2020

Norway plans heavy oil ban around Svalbard

The Norwegian government has announced plans to ban heavy fuel oil (HFO), a dirty marine fuel that propels most vessels, around its Svalbard archipelago in the Arctic Ocean. The effort comes as UN efforts have been deemed too slow.
Energy 05-11-2020

Emissions from energy sector likely to rebound from COVID-19, Capgemini warns

Emissions from the global energy sector will be 7-8% lower in 2020 than in 2019, but most nations are still failing to align their energy generation and consumption patterns with long-term climate targets, Capgemini is warning. EURACTIV's media partner, edie.net, reports.
Energy 28-10-2020

European energy companies launch major carbon capture projects off UK coast

After decades spent extracting fossil fuels from the UK’s North Sea, a consortium of oil companies is preparing to pump Britain’s greenhouse gas emissions back beneath the seabed to help meet the government’s climate ambitions. EURACTIV's media partner partner, The Guardian, reports.
Energy 07-10-2020

Major fossil fuel firms set to miss 2°C climate target, research shows

None of the world's major coal, oil and and gas companies are on track to limit climate warming to 2°C by 2050, according to new research released on Wednesday (7 October).

Norway makes second attempt at carbon capture ‘moon landing’ project

Norway will finance two-thirds of a large-scale project to capture and store carbon dioxide – its second attempt to cut greenhouse gas emissions in a plan that was previously touted as the oil-producing country's moon landing.
Energy 21-09-2020

EU lists sectors eligible for carbon compensation perks

The European Commission reduced on Monday (21 September) the number of industrial sectors eligible for compensation against higher electricity costs caused by the EU carbon market, the Emissions Trading Scheme.
Energy 11-09-2020

Polish oil firm signs up to 2050 climate neutrality goal

PKN Orlen, Poland's largest oil refiner and retailer, this week became the first oil company in central Europe to commit to climate neutrality by 2050, with plans to invest billions in energy efficiency, solar, wind, and hydrogen.
Energy 04-09-2020

Oil industry placing risky bet on plastics, report says

Big oil producers are pinning their future growth on the world's insatiable appetite for plastic, researchers said Friday (4 September), in a "bet" on society's failure to tackle disposable consumption that risks stranding billions of dollars in petrochemical investments.
Energy 20-07-2020

Has the coronavirus killed the oil sands industry?

The spectacular collapse in oil prices caused by the coronavirus pandemic has brought the costliest – and most polluting – oil projects such as tar sands to a standstill, a development some analysts say could be definitive.
Energy 16-07-2020

Oil giants including Exxon set first joint carbon target

A group of the world's top oil companies including Saudi Aramco, China's CNPC and ExxonMobil have for the first time set targets to cut their combined greenhouse gas emissions as a proportion of production, as pressure on the sector's climate stance grows.
Energy 08-07-2020

VW to ditch petrol and diesel cars manufacturing at key factory

Volkswagen is set to remove production lines for all internal combustion engine vehicles from one of its key factories this year, replacing them with electric vehicle production capacity. EURACTIV's media partner, edie.net, reports.
Energy 08-07-2020

Virus crisis threatens to set back oil platform decommissioning

Oil companies are being forced to cut spending due to a fall in global oil prices, threatening funds earmarked to dismantle dated off-shore rigs, despite environmental risks.
Climate change 24-06-2020

US oil giants lagging behind Europe on climate goals, research finds

US-based oil and gas majors are lagging well behind their European counterparts when it comes to plans for cutting emissions to comply with the Paris climate deal, according to analysis released Wednesday (24 June).
Contribute